The other day I posted this new development listing which features:
“Parcel Approved For 8 – 1,500 Sq Ft Condominiums With 2+ Parking Spots Per. Please Present All Offers!!
Pay $1,498,562 and you can buy the whole thing.
Why would that property owner put this on the market for sale at 1.5 Million, when 8 condos could bring in $600+ each? Do the math, that’s 600,000 X 8 = 4.8 Million.
They are parcel approved, after all. Was the owner scared they wouldn’t sell? Is the condo market in Long Beach oversaturated?